Yes you can use it and it will be fine! No you can't paint it But if you go with Seaboard instead of Starboard you will have more colors to pick from and its normaly a little cheaper.
There was another thread of someone wanting to do the samething, I forgot who?? (My mind shot) They also have a non slip version now. But I did not find it to be all that slipery on mine, but I always wear boots when I am out there.
Here is a link to the other thread on the subject:
http://www.wellcraftv20.com/communit...ight=starboard